Bitcoin ETFs Break Records with Inflows Surpassing $2.2 Billion
Bitcoin exchange-traded funds (ETFs) in the US have achieved remarkable success, attracting over $2.2 billion in inflows last week alone. This milestone shattered the previous weekly record set during the first week of trading. The influx of funds into Bitcoin ETFs has surpassed the inflows of more than 3,400 other ETFs available in the country, including popular options like SPLG US and SPY US.
Bitcoin ETFs Outperform Established ETFs in the US
Institutional investors have shown significant interest in Bitcoin ETFs, as evidenced by their trading volume. These 10 ETFs have experienced substantial activity since their launch, accumulating a total inflow of $4.926 billion to date. This recent surge in inflows has propelled Bitcoin ETFs ahead of more established ETFs in the United States.
BlackRock’s iShares Bitcoin Trust Dominates Inflows
The majority of the inflows went into BlackRock’s iShares Bitcoin Trust (IBIT), which has outperformed both other Bitcoin ETFs and ETFs across various asset classes. IBIT attracted $1.673 billion in net inflows last week, making it the third-largest inflow among all 3,500+ exchange-traded funds.
Impressive Inflows Amidst GBTC Outflows
The significant influx into Bitcoin ETFs comes at a time when there is an ongoing outflow from the Grayscale Bitcoin Trust (GBTC) ETF. While outflows from GBTC have slowed down compared to previous weeks, it still experienced $624 million in outflows during the same period.
Bullish Momentum for BTC Price Continues
Bitcoin’s price has surged by over 33% in the past month, reaching over $52,000 per coin. The cryptocurrency has stabilized around this price point, trading between $52,700 and $50,700 in the last five days. Analysts predict that inflows into Bitcoin ETFs could reach $150 billion by the end of 2025, driven by the fear of missing out on further gains. With a new all-time high on the horizon, Bitcoin is expected to continue its upward trajectory as spot ETF trading expands throughout the week.
Hot Take: Bitcoin ETFs Make Waves with Record Inflows
The success of Bitcoin exchange-traded funds in attracting substantial inflows showcases the growing interest of institutional investors in the cryptocurrency market. This surge in demand has propelled Bitcoin ETFs ahead of other established asset classes. Despite ongoing outflows from the Grayscale Bitcoin Trust, Bitcoin’s bullish momentum remains intact, with prices soaring to new heights. As more investors seek exposure to Bitcoin through ETFs, it is expected that these investment vehicles will continue to experience significant growth in the coming years. The future looks promising for Bitcoin ETFs as they reshape the landscape of traditional finance.
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